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minutes. but amman starts us out. >> it seems they are really hashing out details of what to do about the sequester, those are the massive spending cuts. how long you delay those down and otherwise pay for them seems to be the crux of the negotiation going on behind closed doors right now but it is very difficult to find out exactly where these negotiations stand because all sides are being very, very mum. we can tell you that democrats appear to be getting a little bit concerned about where this is headed. take a listen to senator tom harkin who took to the senate floor earlier today. >> the deal must be one that really does favor the middle class, the real middle class, those making 30, 50, 60, $70,000 a year. that's the real middle class in america. and as i see this thing developing, quite frankly, as i've said before, no deal is better than a bad deal and this looks like a very bad deal the way this is shaping up. >> 10 he knows more about the way this is shaping up than we do of course from the outside looking in. but we've also been told that president is going to speak at 1:30
at the economy, the looming fiscal cliff. my partner, tyler mathisen kicks it off for us at the new york stock exchange. >> thank you very much. it is a quiet day down here at the new york stock exchange where the major averages are not really doing very much at this hour. let's take a look. the industrials are down 7 2/3 points at 13,163. nasdaq a little bit lower also in percentage terms. also a percentage at 29891.48. 2 3/4 right now at 1416.74. it would appear the markets are watchfully waiting to see what comes out of washington, if anything. of course, mr. boehner has gone back to his home in ohio for the weekend. the president is on duty at the white house. there are phones, as mr. boehner said, in southern ohio where he lives. if there are any developments, the two gentlemen certainly will be able to get in touch with one another. meantime, there are some individual stock stories of interest at this hour. and one of them concerns facebook. be a facebook lockup expires today and 150 million shares will open up on the market. the last time we had a lockup expiration many expected to see
exchange for us. sue? >> ty, it is a little bit after down side bias today. investors are losing enthusiasm over the fed's move. and more specifically, the employment rate. right now, the dow is down 57 points on the trading session. most of that drop cake after mr. boehner made comments about the continues impasse in trying to resolve the fiscal cliff. s&p down 23, down three quarters percent. and the nasdaq is down about half a percent. bob joins me on the floor of the nyse. the market is very undecided about what is happening in washington. what the feds know that perhaps we don't know. >> we are getting smacked around by these two separate events. the fiscal cliff as well as aftermath of what went on with the fed. i think the fed is still very important here. take a look the dow industrials. remember, we started moving down right after we saw mr. bernanke give his press conference. we talked about fiscal cliff having problems, not having the tools to deal with the fiscal cliff. the fed not having it, should we go over that. there we are dealing with the aftermath. remember something fol
underutilized, revisit its branch strategy in metro areas including those in the u.s. this is a broad overhaul of strategy. we have some 350 of those layoffs, too, taking place in citi's so-called bad bank citi holdings. the cfo said the bank will move swiftly to sell those assets but they still face two problems -- valuation of businesses and financing for these buyers that are interested. the financing caused them to remain directly exposed to a lot of the bat businesses like mortgages. they're trying to get out of them as quickly as possible but we expect they'll face further write-down wlz they do that. that's a big strategy for this year as well. >> kayla, thank you. >>> let's talk more about this with editor in chief at american banker. the new ceo is taking a broad brush approach to this. he's moved quickly and guys on the floor who trade this stock are giving him some high marks because he's making some decisive moves. are they the right moves? >> i think they are. citi has gone in this direction already but i think they're trying to show they're speeding things up here. on the scale o
with manufacturing that have left the u.s. not necessarily people but the education stops producing them. >> that's sad. how do we get that back? sbl well, it is a concerted effort to get them back. with this project that i've talked about where we will do a mac in the united states next year? i think this is a really good another step for us. the consumer electronics world was really never here. so it is not a matter of bringing it back, it is a matter of starting it here. >> good morning. thanks for joining us here. >> reporter: while steve jobs liked to avoid the spotlight, he also thrived on it. it was as if he was selling products that were pieces of his own soul. he was inventor, pitchman and new wave pid piper all in one. big boss coming through. big boss, people. look alive. >> reporter: tim cook is just a different guy. while he believes in the almighty product just as much. >> how are you not steve jobs? >> in many ways. one of the things he did for me that removed a gigantic burden that would have normally existed is he told me on a couple of occasions before he passed away to never qu
leader harry reid says the u.s. is probably going over the fiscal cliff. he's planning a news conference. we don't have the exact time. when it goes, we'll go there. investors getting quite nervous. obviously the dow dropping below 13,000. the first time since early december. fear index is spiking the vick. what going over the cliff will mean for you and your money. we will talk about it this hour. >>> airline stocks flying high sitting at 1 1/2 year highs. will it be smooth skies for the industry next year in 2013. phil lebeau has the report. >>> how about housing? what a story housing has been this year. a milestone. home prices on track for their first year-over-year gain since 2006. is the worst finally over? some say yes, others say no. what does michelle caruso-cabrera say. >> tyler, let's drill down to the numbers you were talking about. only four hours to go until america goes over the fiscal cliff. the dow jones industrial average down 113 points. had been down 148 points. look at that as we come on the air back above 13,000 level, not by much. the nasdaq, the biggest decline. 3
month for the bulls. >>> first interview, david faber is going to join us with the ceo of charter communications. that is thomas rudd ledtledge. we'll get his take on the economy and the company's growth plan. a cnbc exclusive. >>> would you get a mortgage from that girl? no, from walmart. a lot of people say they would. what's that all about? we're going to run it down later on "power lunch." >>> we start with my partner sue herera in the center of the action downtown at the nyse. >> stocks are slightly lower right now despite those fiscal cliff anxieties. they've been pretty steady throughout the day. the s&p 500 broke above its 50-day moving average, believe it or not. earlier in the day it's backed off a little bit. economic news and new data shows u.s. manufacturing falling to its lowest level in three years. and there is a little nervousness about the president taking to twitter at 2:00 p.m. eastern time to talk about the fiscal cliff negotiations that are going on. but it is the first trading day of the month and some on wall street are getting bullish for year end. it is g
overblown? president obama says he will use whatever power he has to prevent another massacre like the one in newtown, connecticut. what can be done, if politics is the art of the possible? where does the possible reside in america? we talk solutions today on "power lunch." my partner, sue herera, sue? >> let's look at where major averages sit right now. just a second ago, we were up 80 point on the dow. we are close to the highs of this session so far. nasdaq composite is up 29 on the trading session and s&p 45u7b is up 13. it is that optimism over the fiscal cliff which increased over the weekend after house speaker boehner edged ever closer to president obama's position. indeed, the speaker met with the president at the white house this morning. eamon javers is at the white house. eamon? >> previous meetings between the president and speaker had been telegraphed a little bit. this one was not today. this is an interesting development but a grim-faced speaker bainer who arrived back up on capitol hill not talking to reporters. we don't yet have a sense of what was in the meeting, what th
at stake. the person people sent us here to work together towards the best possible solution, and that means cutting spending. the president doesn't agree with our approach, he's got an obligation to put forward a plan that can pass both chambers of the congress. >> meanwhile despite all of the back and forth, the market is seemingly optimistic today. at least some form of a deal will be released. we've been up 100 points on the dow industrials for the past hour. senator mark warner of virginia perhaps putting it best saying compared to the size of our economy the current proposals are relatively small and government should step up and get a deal done. >> we're joined by representative lee terry, republican from nebraska represents the district home to a guy we all know, warren buffett. >> pretty famous guy. >> we spoke to some folks already today. we're not hearing many details. what details have you received specifically from the democrats on the spending cuts they are willing to make. >> none. we haven't heard any details from the democrats, even bust talking around the ca
see your doctor, and for a 30-day free trial, go to axiron.com. >>> final trades, kick us off. >> i love the way that the gas is trading. i like emn. >> i'm going contrary here. xrt. >> long yum. >> fxi, china on the long side. >> that does it for us. catch the documentary tonight, behind closed doors at mariott, start at okay. >>> "halftime" is over. second half of the trading day starts now. >> absolutely. spend the night in a hotel with scott walker tonight at 9:00. ats he froo free. fed leaving interest rates the same but that's not the news. there is a new bond buying program and making an historic move keeping interest rates down low so long as unemployment rates stays above 6.5%. tying the rate it an economic trigger. an date. fed chief bernanke gearing up in about an hour's time. apple moving into your living room. yes, sir. tech tightian reportedly closer to testing several tv set designs. will it be the game-changer that so many have been waiting on? and you heard it here on cnbc. j.p. morgan's jamie dimon. taking about the fiscal cliff. do they expect a deal? their take o
signals that have been sent publicly by both parties have caused some noted skeptics of us getting a fiscal cliff deal. >> i think the atmospherics are getting so much better. we've gotten out after ka bookie theater and gone to dancing the tango with those two guys. any time you start to tango, you have a chance. >> chances of getting it done now are better. i think that's what's key. >> part of that tango is republicans cracking on tax rates. that's what president obama will be talking about in michigan today. keeping the public pressure on. but the part for the administrator point of view, tyler, is what do they live john boehner so he can bring his troops along, entitlement, spending cuts, to tell their members we got a good deal. >> john, i find it curious to find that president spent as much time as he has on the road trying to drum up support for this deal. we just had an election all about this. why does not white house figure that these kinds of appearances are helpful when both sides positions are pretty well locked in already? >> because this president and this white hou
leisman who's had a very busy week here to talk about the numbers and put it in context for us. >> hi, sue. no substantive sandy in the jobs numbers. the lack of sandy effect has us scratching our heads, what they said. i just got off the phone with the guy who's the head of doing the numbers, labor numbers at the bls. he walked me through the rather extensibilive process they did fine out if there was any sandy effect, including sampling of businesses in a flood tide areas. >> it was very meticulous. >> i'm pretty convinced they did a good job figuring out if there was an effect and there is no effect which brings us to the numbers which you could believe on face value as much as you can. they'll revise this again. they only come forward with 60% to 70% of the sample. unemployment rate falling 7.7% because largely a drop in the labor force. average hourly earnings up 0.2%. despite positive headlines, xwoeld man sax says we interpret this report as one only slightly better than expected overall given downward revisions and weaker labor force and it does not change our assessment of the und
. >> bill ackman, thank you for joining us. back to you guys. >> andrew, thank you very much. to kate kelly now because herbalife is responding and kate has late-breaking details on that. kate? >> thank you, sue. just to reiterate, response to ackman from herb al life. saying mr. ackman has previously said to beware of companies. we asked to be part of the call today, he refused. his miss statements are mistakes are too numerous to address immediately. once again, michael johnson, their ceo yesterday, called claims being called bogus, add matly denied they are a pyramid scheme. sounds like we will hear more in the days to come. >> i wonder if they will address the issue ever buying back their own stock with which mr. ackman says they are doing today. >> a perfect storm is brewing in washington and at this hour. the house gets set to vote on plan b which the white house has said is a nonstarter. house speaker boehner will hold a news conference in about 15 minutes or so. we will take it live here. first, to john hart wood at the white house. john? >> sue, we've had a pretty relentless game o
right away. ask your doctor about cialis for daily use and a 30-tablet free trial. >>> final trade. >> you've got me convinced, earlier, facebook still works. >> visa, buy it. >> grish shom? >> bac stole my position. i'm reentering it. >> citigroup, march 44 calls. that does it for us. money in motion tonight. we'll see you on the other side. "power" begins now. >>> "money in motion" tonight but there is not much motion right now down there. that, crickets, the sound of nothing going on. it is a sad sight indeed. three days and 11 hours from now we will be over the cliff. the hill does not seem like a behive of activity today, but a key meeting is set for today. in about two hours' time at the white house the congressional leaders will be there with the president. good afternoon, everybody. i'm tyler mathisen, michelle caruso-cabrera is with us and eamonja javers is joining us. mary. >> tyler, we've been wait in see mode on wall street as investors react to any kind of signs or headlines that come out about possible progress on a deal, a mini deal is what traders are expecting now
ask your doctor about cialis for daily use and a 30-tablet free trial. >>> it is time now for "final trades." pete, start us off. >> stick with financials. >> joey? >> you want to put a pairs trade on short consumer discretionary, xlb materials. >> tbf. good way to play it. >> you think maybe we'll get that rotation we've been talking about? >> hope so. >> doc? >> hgq, the double silver long it. >> more "fast money" later tonight. watch "power lunch" right now. >>> "halftime" is over. "power lunch" starts right now. >> merry cliff-mas, everybody. five days left and still no deal. president obama cutting short his annual vacation in hawaii to deal with the fiscal cliff. no sight of congressional leaders. they're not in town. investors getting a little bit nervous. will congress get it together in time? no talks that we know of are imminent. it was by at least one measure, the weakest holiday retail sales growth since the financial crisis back in 2008, but could a post-christmas holiday sales bounce be around the corner? >>> and what a year it has been for tech. gadgets and
. >> wow. thank you. that disit for us. don't forget to join more fast at 5:00. join me on cnbc. "power lunch" starts now. >> the second half of the trading day starts now. >> fiscal cliff negotiations picking up speed as house speaker boehner unveils his back-up plan. the white house says no thanks. we are going to look at the fiscal cliffrences between the two. private equity firm selling after last week's shooting in connecticut. should investors, rather than the government, take the lead in attempting to influence gun policy? >>> herb greenberg will be out with his list of the worst ceos of the year. in this hour he will reveal number three. my partner sue herera on the floor of the new york stock exchange. hi, sue. >> hi, ty. it's a strong day with a triple digit advance. we have 13 days until america goes off the fiscal cliff. events moving faster in washington. house speaking boehner meeting with party members, moving to plan b. that deals with bush era tax cuts. the white house rejected that. investors like whatever progress we're seeing. s&p 500 at a two-month high. s&p up 1 1/
to be a member to use this new app and julie boorstin is in los angeles with the three things you need to know this deal. hi, julia. >> hi, sue. well, facebook is continuing its big push to make money on mobile users by offering its messenger app to billions of people around the world with phones and no longer limiting that app to facebook users. here's the deal. first, mobile messenger is a free app for texting, group chat and photo sharing with no per-text fees. just carrier's regular data costs. doesn't yet yield direct revenues to facebook but it is serving as a gateway to join the social network where traffic does translate to profits. second, this is a big emerging markets play. facebook is stream lining the signup process to appeal to the billions of people who don't have easy access to e-mail or a computer but who do own phones. third this is all about facebook doubling down on mobile where it is experience the fastest growth and now looking for profits to match. it could easily attach ads to messenger as it rolls out more mobile ads. now, facebook is so determined to make it size for
>>> it is final trade time. ennis, start us off. >> long chub. >> pete? >> love blackstone. steve schwartz man is running a good shop. >> doc? >> hartford. hig calls out there in next year. >> stick to emerging markets. dvye is my method of doing that. >> that does it for us. don't forget to catch more "fast money" tonight at 5:00 p.m. follow me on twitter as always @scottwapner. major averages are still fighting it out. "power lunch" picks up the ball, runs with it right now. >>> lace them up, halftime is over. the second half of the trading day starts now. >> well, just when we thought we were finally getting some movement on the fiscal cliff, talks apparently have hit a snag. president obama threatening to veto house speaker boehner's proposal plan b. he called obama irrational. where do the two sides stand right now, especially on spending? president obama says the nation has a deep obligation to stop gun violence and appoints vice president biden to lead the administration's effort on this. we'll have the details on that and look at the legal implications for gun manufacturer
? >> no, not yet. >> that does it for us. don't forget to catch "money in motion" and options this evening. have a great evening. follow me on twitter. and power starts now. >>> and we welcome you to "power lunch." we have three major news conferences in washington, d.c. president obama will nominate senator john kerry to be his next secretary of state. harry reid will be on the senate floor and house minority leader nancy pelosi will discuss the cliff crisis. with plan b history, washington is scrambling to get a deal done. the markets however are decidedly worried. dow jones has been down triple digits almost all session. we are off our worst lefs, down about 174 point a few moments ago. down 152 on the dow. 17 to the minus side and nasdaq is off almost 40. let's go to washington where john har wood is standing by with the latest on the fiscal cliff follies. john? >> all follies so far, sue. we had house speaker john boehner come out today and have a news conference explaining the failure of his plan b last night which stunned a lot of people because both boehner and eric cantor majority
Search Results 0 to 18 of about 19